Zhongmin Baihui 1H2011 revenue up 405.8%, to open more malls
Catalist-listed Zhongmin Baihui posted revenue growth of 405.8% to Rmb 94.3 million for 1H2011 after it began operating on 26 April 2010 the basement floor of its Xiamen store, which accounts for 72.7% of the gross store floor area in Xiamen.
It owns and operates one of the largest underground retail malls in Fujian Province, located in the commercial centre of Xiamen City at the confluence point of bus terminals, bus rapid transit and the high-speed train.
Its revenue is mainly generated from: a) direct sales, b) concessionaire sales, c) rental, d) managed rental and e) other income-generating activities comprising mainly management services and advertising and promotion services.
1H2011 net earnings were Rmb 9.1 million, compared to a loss of Rmb 8.9 million a year ago.
The company intends to set up other department stores in Nanjing, Quanzhou, Zhangzhou as well as a logistics center in Xiamen.
Its long-term plan is to have gross store floor area of 300,000 square meters by 2016, compared to 23,600 square meters this year.
United Envirotech raises US$113.8 million via convertible bonds
United Envirotech has entered a definitive agreement with Kohlberg Kravis Roberts for a US$113.8 million convertible bond.
The 2.5% coupon convertible bond investment will have a five-year tenure and is convertible into shares at a conversion price of 45 cents per share. This represents a 37.3% premium to United Envirotech’s 32.8-cent average closing price for trades done in the last 30 trading days.
The convertible bond issue is expected to conclude before the end of this year and is subject to customary conditions, including approval from United Envirotech's shareholders.
United Envirotech is a leading membrane-based water and waste water treatment and recycling solutions provider in China’s chemical, petrochemical and municipal sectors. Its principle activities include design, fabrication, installation and commissioning of water and waste water systems using its proprietary advanced membrane technologies such as the Membrane Bioreactor (MBR) technology.
It has designed and built several of the largest industrial and municipal wastewater treatment plants in Asia using the MBR technology.
It undertakes both turnkey and water investment projects (TOT/BOT/BOO), as well as provides treatment plant operation and maintenance services.
Its customer base includes petrochemical giants like China Petrochemical Corporation, China National Petroleum Corporation, China National Offshore Oil Corporation and Sembcorp Industries in Singapore.
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Xpress launches print station on Sentosa
Xpress has launched an Xpress Print Station on Sentosa, in collaboration with Mount Faber Leisure Group, which operates cable cars plying between Sentosa Island, Harborfront and Mount Faber, as well as food and beverage businesses.
“Resort World Sentosa alone spends over a million dollars a year on print collaterals,” said Xpress executive director Victor Khoo at the launch last Fri.
A S$200,000 heavy duty digital Canon print station was purchased by The Mount Faber Leisure Group and installed at its Cable Car Station Museum for the collaboration, while Xpress provides the printing services and expertise to about 100 hotels, F&B outlets and other merchants on Sentosa.
We mostly use Canon machines at our HQ in Kallang, said Mr Khoo.
”Canon was the one who referred Xpress’ to us. They are the best choice for handling the various types of print collaterals,” said Chan Chee Chong, the general manager of Mount Faber Leisure Group.